LeapRate Exclusive… LeapRate has learned that leading Forex industry investment bank and consultancy firm Shift Forex is set to hire a senior business development executive to be based in Israel and run the company’s practice in the region.
Based in New York, Shift Forex has a sole focus on the foreign exchange industry and has worked with hundreds of clients across technology, liquidity, risk management, compliance, sales, and marketing related projects.
The company also runs the FXIC series of Forex industry B2B conferences, taking place in New York, Mexico and China. The company’s next event is FXIC Shanghai, slated for December 7-8 at the Waldorf Astoria Shanghai on the Bund, bringing together China-focused IBs and money managers with global forex brokers and platform providers.
The Shift Forex hire is a person who recently left a senior management position with a leading Israel-based platform provider, having extensive connections in the industry.
The Shift Forex Israel office will focus on advising on new MT4 brokerage formation. In that realm, Shift Forex earns money both by acting as a consultant, and as an MT4 reseller.
Israel remains one of the main global centers of the Forex industry, with many Forex and Binary brokerages, platform providers, and IBs located in the country. Most recently, we’ve seen Teddy Sagi’s Markets.com (via parent Playtech) acquire both AvaTrade and Plus500, creating what will be by far the largest Israel-based Forex brokerage operation.
Israel is in the process of implementing new regulations for forex brokers, making the opening of a new brokerage in the country somewhat more involved than in the past.